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Corona Remedies IPO

35.00xsubscribed

Corona Remedies IPO

35.00xsubscribed

Hospital & Healthcare Services

listed

₹14,112Min. investment

Corona Remedies Limited IPO Details

Sector

Hospital & Healthcare Services

Issue size

₹655Cr

IPO type

Mainboard

Market cap

₹6,495CrLower than sector avg

Price range

₹1,008 – ₹1,062

Listing exchange

BSE, NSE

RevenueApr 2024 - Mar 2025

₹1,196CrHigher than sector avg

Listing date

15 Dec 2025

Lot size

14 shares

Red Herring Prospectus

Read

Growth rate3Y CAGR

16.33%

SectorHospital & Healthcare Services

Price range₹1,008 – ₹1,062

IPO type

Regular

Lot size14 shares

Issue size₹655Cr

Red Herring Prospectus

Read

Market cap

₹6,495CrLower than sector avg

RevenueApr 2024 - Mar 2025

₹1,196CrHigher than sector avg

Growth rate3Y CAGR

16.33%

Corona Remedies IPO Subscription Status

Date	QIB	NII	Retail	Total
08-Dec-25	0.0 times (X)	0.08 times (X)	0.31 times (X)	0.16 times (X)
09-Dec-25	1.87X	2.58X	2.21X	2.4X
10-Dec-25	116.67X	19.98X	9.52X	35.0X

As on 08-Dec-25, 5:30 PM

Corona Remedies IPO Timeline

Pre-apply
4 Dec
Bid start
8 Dec
Bid end
10 Dec
Allotment
11 Dec
Release of funds
12 Dec
Demat transfer
12 Dec
Listing
15 Dec

Pre-apply
4 Dec 2025
Bid start
8 Dec 2025
Bid end
10 Dec 2025
Allotment
11 Dec 2025
Release of funds
12 Dec 2025
Demat transfer
12 Dec 2025
Listing
15 Dec 2025

About Corona Remedies Limited

Corona Remedies Limited is an India-focused pharmaceutical formulation company that develops, manufactures and markets a wide range of medicines related to women healthcare, heart and diabetes care, pain relief, urology, and more.

According to the CRISIL Intelligence report, Corona Remedies is the 2nd fastest growing company among the top 30 companies in the Indian Pharmaceutical Market (IPM), with domestic sales rising 16.77% much higher than the industry average of 9.21% for Moving Annual Total (MAT) sales between June 2022 and June 2025.

The company offers a diverse portfolio of 71 brands. Out of these, 27 brands account for over 72% of the company’s domestic sales as of June 30 2025, MAT sales. Some of its best-known brands include B-29 (which brings in over ₹100 crore in revenue), Myoril, Tricium, Cortel, Obimet, and Rosuless. Several brands of the company, like Myoril, COR, and Trazer, hold a leadership position and are among the top brands in their respective sub-groups.

The company has two manufacturing facilities in Gujarat and Himachal Pradesh with a total installed capacity of 128.54 crore units per annum across 11 production lines as of June 30, 2025. The Gujarat facility is EU GMP and WHO GMP-certified, while the Himachal Pradesh facility is WHO GMP-approved. A new hormone manufacturing facility in Gujarat is expected to start operations in Q1FY27. The company also invested in La Chandra Pharmalab Private Limited, which operates an EU GMP and WHO GMP-certified hormone API manufacturing facility.

The company operates in several fast-growing therapeutic areas. A big part of its sales comes from women's healthcare, where the company has a strong position with ₹408.03 crore in sales or 28.56% contribution to MAT June 2025 domestic sales. Next, it has a meaningful presence in cardio-diabetes medicines, which generated ₹333.99 crore (23.38% of sales). Pain management contributed ₹168.44 crore or 11.79% of MAT June 2025 sales. In urology, the brand is not so big but competitive with ₹64.67 crore or 4.53% contribution. The remaining therapies and product categories together contribute ₹453.36 crore or 31.74%, creating a wide and diversified base.

The company has a marketing and distribution network of 2,671 medical representatives in 22 states as of June 30, 2025. The distribution network is backed by 22 carrying and forwarding setups and more than 2,000 distributors across India. It targets the "middle of the pyramid" market segment, with specialists and super-specialists contributing 75.75% of prescriptions during MAT June 2025 sales, compared to 60.96% for the overall IPM.

The Indian domestic formulation market, valued at approximately ₹2.30 lakh crore in FY25, represents about 2% of the global pharmaceutical market. The market composition has changed; chronic therapies now represent about 55% and acute therapies 45% of the total domestic formulation market as of FY25. The growth in the chronic segment is expected to outpace the overall market at 8.5-9.5% CAGR between FY25 and FY30. Growth in the acute segment is likely to be slower at 7.5-8.5% CAGR during the same period.

Women's healthcare presents significant growth opportunities in India. The female population of the country has steadily risen to nearly 49% of the total population, accompanied by improved life expectancy and access to healthcare.

The company targets high-growth chronic and sub-chronic therapies that grew at a CAGR of 20.48% between MAT June 2022 and MAT June 2025, much higher than the IPM CAGR of 10.08%. It also has low exposure to the National List of Essential Medications, with 9.76% of total sales under NLEM 2022 compared to 17.51% for the overall IPM, thus assuring greater pricing flexibility.

Now, Corona Remedies Ltd is launching its initial public offering (IPO), which consists of an offer for sale of ₹655.37 crore. Its shares will be listed on the NSE and BSE.

How to pre-apply for the Corona Remedies IPO?

You can pre-apply for the Corona Remedies IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.

Follow these steps to pre-apply for the IPO:

Login to your Upstox account, using your six-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘Corona Remedies IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Pre-Apply’
Accept the mandate on your UPI app

How to apply for the Corona Remedies IPO?

If you are interested in this investment opportunity but unsure how to apply for the Corona Remedies IPO, here are the steps that you need to follow.

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Corona Remedies IPO on Upstox:

Log in to your Upstox account, using your six-digit PIN
After logging in, click on ‘Discover’
On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘Corona Remedies IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Apply’
Accept the mandate on your UPI app

How to check Corona Remedies IPO Allotment Status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.

Here’s a step-by-step guide on how to check the Corona Remedies IPO allotment status:

Login to your Upstox account, using your six-digit PIN
After logging in, click on ‘Discover’
On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, you will find the ‘View all’ option
Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
In the ‘IPO’ tab, click on ‘My applications’
In ‘My applications’, under the History section, your Corona Remedies IPO allotment status will be mentioned

Checklist

Quality analysis

Revenue growth

Company valuation

Earnings expansion

Risk analysis

Debt to Equity ratio

Promoter holdings

Shares pledged

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Strong portfolio in fast-growing therapeutic areas

The firm has a deep anchor in the fast-growing categories in India: women's healthcare, cardio-diabeto, pain management, and urology. These four areas together contributed 68.26% of domestic sales, growing at a 22.40% CAGR from MAT June 2022-2025. This strategic alignment to long-term demand provides volume stability and visibility for the portfolio.

Leadership across flagship “engine brands”

The firm has 27 “engine brands” that alone contributed 72.34% of domestic sales in MAT June 2025. Key brands like COR, Trazer, Cor-9, B-29, Myoril and Tricium dominate their respective sub-categories, with 12 of these brands ranked within the top 5 in their therapeutic segments.

Limited exposure to NLEM list

The company’s portfolio has limited exposure to the National List of Essential Medicines. Only 9.76% of its sales fall under NLEM, which is the 7th lowest amongst the top 30 pharmaceutical companies in IPM, versus 17.51% for the overall pharma market, giving it far better room to protect margins and avoid regulatory price compression.

Growing focus on chronic & sub-chronic therapies

The company has been shifting focus towards categories with longer prescription duration, better patient stickiness, and more profitability. 70.10% of its domestic sales came from chronic/sub-chronic products in MAT June 2025, versus 63.82% in June 2022. This helps ensure recurring revenue and predictable cash flows.

Strong sales infrastructure and deep engagement

The company has built a pan-India commercial engine reaching specialists and super-specialists. ~75.75% of its prescriptions come from specialists vs 60.96% for the broader market, and more than 75% of sales come from urban/semi-urban markets, where purchasing power and compliance are higher.

Geographical concentration

96.33% of revenues are generated domestically in FY25. Approximately 47.30% of domestic sales in MAT June 2025 come from only five western states: Gujarat, Maharashtra, Goa, Chhattisgarh, and MP. Thus, any slowdown in those markets, changes in regulations, or even issues with distributors disproportionately hurt growth.

Raw material and API supply uncertainty

The company does not have long-term contracts with most of its suppliers and has high dependence on third parties for APIs as well as finished goods. Total purchases represented 27.96% of expenses in FY25. Prices are volatile, with suppliers potentially giving higher priority to competitors. There’s also additional dependence on the related-party API supplier, La Chandra Pharmalab.

Trademark protection gaps

Although there are 194 registered trademarks, 67 were opposed / objected / refused / abandoned, and another 29 applications are pending. Some of the engine brands, like Cortel, Argihope, and Dosin, do not have final registrations. In case of similar brand name usage by competitors or any disputes arising, the company could lose brand recognition and revenue.

Heavy dependence on a few therapeutic categories

The company’s product portfolio is concentrated in a limited number of therapeutic categories, such as women's healthcare, cardio-diabeto and pain management therapies. In FY25, these 3 together accounted for 62.40% of total revenue. Any shift in physician prescriptions toward competing alternatives or the launch of viable new alternatives may bring down sales and margins for the company.

Regulatory approvals still pending for the Solan facility

This plant at Solan is one of the major production hubs for the company, but a lot of significant operational approvals are still pending. These include approval for NOC for the extraction of groundwater, authorisation of bio-medical waste, and fire safety NOC. Failure or delay in any of these could lead to forced shutdowns, penalties, or disruptions in production for the company.

Objectives of Corona Remedies Limited IPO

Carry out the offer for sale

The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders.

Listing on stock exchanges

The company want to achieve the benefits of listing its shares on the stock exchanges.

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CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio

This IPO₹1,196Cr16.33%₹149.4Cr₹6,495Cr43.470.10

This sector (avg.)₹810.55Cr---₹87.66Cr₹10,075.9Cr55.140.40

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₹7,782.75Cr---₹809.39Cr₹64,284.69Cr63.430.28

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Corona Remedies IPO Contact Details

Company Name	Corona Remedies Limited

Company NameCorona Remedies Limited

How to apply for Corona Remedies IPO?

Step 1
Log in to your Upstox account to access IPO investments. Next, select the current IPO section.
Step 2
Specify IPO details. Enter the number of lots and the price you wish to apply for.
Step 3
Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4
Mandate Notification. Your UPI app will receive a mandate notification to block funds.
Step 5
Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Latest News on Corona Remedies Limited IPO

ChrysCapital-backed pharma firm Corona Remedies plans up to Rs 2,000 cr IPO

Corona Remedies IPO opens December 8: Check price band, lot size, objectives, key dates and more

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Upcoming IPOs: ICICI Prudential AMC, Wakefit, Corona Remedies, Nephrocare, 9 other issues to open this week; check list

4 min read

Corona Remedies IPO subscribed 38% so far on Day 1: Check price band, lot size and more

3 min read

Corona Remedies IPO subscribed 134.63 times so far on Day 3: Check allotment date and steps

2 min read

Corona Remedies IPO allotment finalised: Check status online on NSE, BSE, Bigshare Services; listing date, time here

3 min read

Corona Remedies IPO Allotment Highlights: Status finalised; how to check online on Bigshare Services, NSE, BSE

5 min read

Corona Remedies IPO Listing Date: 4 key things retail investors should know ahead of NSE, BSE debut

3 min read

Corona Remedies Limited IPO FAQs

How to invest in the Corona Remedies IPO ?

Investors can apply for the Corona Remedies IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Corona Remedies IPO ?

The issue size of the Corona Remedies IPO is 655 Cr.

What is 'pre-apply' for Corona Remedies IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Corona Remedies IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.

What are the open and close dates of the Corona Remedies IPO ?

Corona Remedies IPO will be open between 2025-12-08 and 2025-12-10.

What is the allotment date for the Corona Remedies IPO ?

Corona Remedies IPO allotment date is 2025-12-12. For Corona Remedies IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of Corona Remedies IPO ?

For Corona Remedies IPO, the IPO registrar is Bigshare Services Private Limited. You can check Corona Remedies IPO allotment status on the website of the registrar.

Where is the Corona Remedies IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

When will Corona Remedies IPO shares be credited to your demat account?

The Corona Remedies IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.

What is the lot size and minimum order quantity of the Corona Remedies IPO ?

The Corona Remedies IPO lot size is 14 and minimum order quantity is 14.

What is the price band for the Corona Remedies IPO ?

Corona Remedies IPO has set the price band for its IPO at 1062 per equity share with a face value of 10.